Metallicus has acquired Bonifii, a CUSO connected to 70 credit unions, bringing blockchain technology to a larger audience. Through the Digital Banking Network (TDBN), this partnership will provide credit unions with advanced on-chain solutions designed to enhance efficiency and reduce costs.
Bonifii’s Blockchain Expertise
Bonifii’s unique connection to a blockchain core developer offers its credit union partners access to innovative tools. Metallicus CEO Marshall Hayner emphasized the acquisition’s potential to onboard more financial institutions and deliver customized blockchain services globally.
FedNow Integration: A Competitive Edge
Metallicus’ early adoption of the FedNow digital payments system underscores its leadership in real-time banking solutions. By incorporating Bonifii, Metallicus strengthens its ability to offer instant, government-backed payment services to credit union members.
Financial and Market Impact
Bonifii’s $20 million in funding and Metal Blockchain’s $13.65 million market cap reflect the combined strength of this partnership. Together, they aim to redefine digital banking for credit unions.
Shaping the Future of Financial Services
With John Ainsworth transitioning to Metallicus as general manager, this collaboration is set to expand blockchain adoption in the credit union sector, driving innovation and improving member services.
The OECD envisions AI as a catalyst for enhancing customer service and visitor engagement in the tourism industry. By leveraging AI-driven solutions, businesses can deliver highly personalized experiences, such as customized itineraries and real-time recommendations tailored to individual preferences. These innovations promise to elevate the quality of service, ensuring that travelers enjoy more memorable and satisfying journeys.
Driving Operational Efficiency
AI also offers tools to make tourism operations more efficient. Automation of routine tasks can streamline administrative processes, freeing up human resources to focus on more complex and creative roles. Additionally, AI improves accessibility by catering to diverse traveler needs, ensuring inclusivity in the tourism experience. AI’s ability to optimize resource allocation—such as managing tourist traffic—helps prevent overcrowding at popular destinations, striking a balance between visitor enjoyment and sustainability.
Promoting Eco-Friendly Practices
The report underscores AI’s potential in advancing eco-friendly initiatives within the tourism sector. By enabling precise energy management, waste reduction, and effective workforce planning, AI technologies contribute to reducing the industry’s environmental footprint. Sustainable practices supported by AI can help mitigate the impact of tourism on natural resources and local communities.
Addressing Ethical Concerns
While AI presents numerous benefits, the OECD stresses the importance of addressing ethical challenges associated with its adoption. Key considerations include:
Fairness: Ensuring AI systems are unbiased and equitable in their recommendations and operations.
Privacy: Safeguarding sensitive traveler data against breaches and misuse.
Inclusion: Designing AI solutions that are accessible and beneficial to diverse groups, including marginalized communities.
The Path Forward
The OECD advocates for G7 nations to embrace AI responsibly, balancing innovation with ethical considerations. By adopting robust regulations and fostering transparency, governments and businesses can harness AI to create a tourism industry that is not only innovative but also sustainable, inclusive, and fair.
Introduction to Cryptocurrency Adoption Among US Voters
In a revealing survey conducted by Emerson College between December 11 and December 13, it was found that 19% of registered US voters have engaged with cryptocurrency in some form, whether through trading, investment, or usage. This indicates a significant shift in how Americans view and interact with digital currencies, with younger voters leading the charge. Among those under the age of 40, nearly a third have used or invested in cryptocurrency, while older generations, particularly those over 70, remain largely detached from this financial trend. This generational divide underscores the growing role that digital assets play in modern financial systems, with the younger, tech-savvy demographic embracing new technologies more readily than older generations.
Crypto Users and Political Preferences
The survey also highlights the correlation between cryptocurrency usage and political preferences, with a striking 57% of crypto users expressing favorable views toward President-elect Donald Trump. This statistic underscores the strong connection between the crypto community and political figures who support the growth of digital currencies. Trump’s well-known support for cryptocurrencies and his advocacy for pro-crypto policies have found a strong resonance among digital currency enthusiasts. In his campaign, Trump has spoken about the potential of cryptocurrency to drive economic growth and innovation, and his administration’s appointments reflect this stance, with several pro-crypto figures now holding positions of influence within key financial regulatory bodies such as the SEC.
Crypto’s Transition from Investment Tool to Payment Method
Another notable finding from the poll is the increasing use of cryptocurrency for practical purposes. Nearly 40% of crypto users have used their digital currencies to make actual purchases, signaling that cryptocurrencies are no longer just seen as speculative investments but are beginning to function as legitimate forms of payment. This change is particularly evident among younger individuals, who are integrating cryptocurrency into their daily transactions as an alternative to traditional payment methods. From shopping online to using digital currencies in brick-and-mortar transactions, cryptocurrency is moving beyond the realm of digital wallets and investment portfolios into everyday commerce.
Gender and Ethnic Diversity Among Crypto Users
The survey also uncovers interesting demographic trends, particularly regarding gender and ethnicity. Men are more likely than women to use cryptocurrency, with 26% of male respondents reporting engagement with digital assets compared to just 13% of females. Furthermore, minority groups, including Asian, Hispanic, and Black respondents, make up a larger proportion of crypto users compared to white respondents, reflecting the increasing diversity within the cryptocurrency community. These findings suggest that cryptocurrency is not only reshaping the financial landscape but also influencing political dynamics, with a growing number of voters factoring digital asset policies into their voting decisions.
The Growing Influence of the Crypto Voting Bloc
In light of these developments, the rise of the “crypto voting bloc” is becoming more apparent. According to research from the Digital Chamber, around 26 million US voters are now part of this bloc, and their influence is expected to shape future elections. As cryptocurrencies gain mainstream acceptance, this bloc is expected to expand, with crypto-related issues becoming increasingly important in shaping political campaigns. Future elections will likely see candidates vying for the support of the growing number of crypto-savvy voters who are keen on seeing their preferred policies reflected in government.
FCA Raises Alarm Over Retardio’s Unauthorized Activities
The UK’s Financial Conduct Authority (FCA) has raised concerns about the Solana-based cryptocurrency project, Retardio, warning that it may be offering financial services without the necessary authorization. On December 16, the regulator issued a public caution, emphasizing that UK consumers who engage with this unregulated project will not be protected by essential financial safety nets like the Financial Services Compensation Scheme (FSCS) or the Financial Ombudsman Service (FOS).
Risks of Engaging with Unauthorized Projects
The FCA’s warning serves as a reminder that dealing with unauthorized financial projects carries significant risks. When consumers interact with firms that are not authorized by the FCA, they do so without the protections that authorized firms offer. The FSCS and FOS are crucial in ensuring that consumers can recover their investments or resolve disputes in cases where authorized firms fail, but these services are unavailable for projects like Retardio.
Retardio’s Popular NFT Collection and Memecoin
Retardio’s NFT collection, which has generated $31 million in sales, and its memecoin, which is trading at $0.08 with a market capitalization of $87 million, have contributed to the project’s growing popularity. However, the FCA’s warning is a timely reminder to UK consumers to exercise caution and avoid engaging with unregulated projects that could potentially expose them to significant financial risks.
Retardio Responds to FCA: A Humorous Rebuttal
In an amusing response to the FCA’s warning, the Retardio project humorously claimed that it had “issued a warning against the UK’s financial regulator.” While the response was playful, it does not resolve the serious concerns raised by the FCA, which continues to advise UK consumers to be cautious when dealing with unregulated financial services.
The National AI Capability Plan, unveiled by the Australian government, is a forward-thinking strategy designed to develop the nation’s AI industry. By enhancing workforce skills and fostering innovation, the plan aims to attract investments and position Australia as a global AI leader.
Critical Infrastructure at the Forefront
Minister Ed Husic highlighted the plan’s commitment to strengthening infrastructure and securing supply chains. These efforts are aimed at enabling industries such as healthcare and manufacturing to adopt AI technologies seamlessly and effectively.
Calls for Urgency from Industry Leaders
Although the plan has garnered widespread support, industry representatives like Simon Bush have raised concerns over its slow rollout. They stress the importance of expedited action to ensure Australia remains competitive in the rapidly evolving AI sector.
In the United States’ first criminal prosecution for cryptocurrency-related tax evasion, Frank Richard Ahlgren III has been sentenced to two years in federal prison for concealing over $4 million in cryptocurrency earnings.
How the Evasion Unfolded
Ahlgren sold 640 BTC in 2017, earning $3.7 million. He falsified his tax returns by inflating the cost basis of his Bitcoin holdings, evading over $1 million in taxes. His gains were reinvested into real estate.
Strategies to Hide Transactions
From 2018 to 2019, he concealed an additional $650,000 in Bitcoin sales using crypto mixers, wallet transfers, and cash transactions. Federal investigators eventually uncovered discrepancies in his filings.
Government’s Growing Expertise
The Department of Justice highlighted its ability to track digital transactions, with Acting Deputy Assistant Attorney General Stuart Goldberg underscoring the case’s importance in enforcing tax compliance.
A Warning for Crypto Investors
Ahlgren’s sentence, including supervised release and a $1.1 million restitution payment, highlights the risks of non-compliance and the need for transparency in reporting cryptocurrency gains.
RMIT has announced that its Blockchain Innovation Hub will transition into a general research group under its finance school by 2025. This change is part of a broader strategy to efficiently allocate resources and focus on enhancing student-centric programs.
Challenges and Staff Reactions
Despite its prominence since 2017, the Blockchain Hub has struggled with funding and research output. The restructuring requires staff to split their time between teaching and research, prompting concerns about whether the university can maintain its leadership in blockchain innovation.
Blockchain in a Booming Market
With Bitcoin recently surpassing $100,000, the decision to restructure the Hub has sparked debate about RMIT’s commitment to the blockchain sector. Many are questioning whether the timing aligns with the technology’s growing global importance.
Raydium, a Solana-native DEX, has outperformed Uniswap for the second consecutive month. Messari’s December 10 report reveals Raydium’s $30 billion trading volume for November, 30% higher than Uniswap’s. October saw a narrower 10% margin, as noted by Syncracy Capital’s Ryan Watkins.
Memecoin Frenzy and Adoption
The memecoin trend has been pivotal to Raydium’s rise, accounting for 65% of its November activity. Platforms like Pump.fun have driven significant engagement, making Raydium a key player in this niche market.
Solana’s Expanding Ecosystem
As Solana’s DeFi ecosystem grows, Raydium benefits from its high throughput and low fees. The network’s TVL has increased fivefold in 2024, setting the stage for continued growth and competition with Ethereum-based platforms.
The integration of Solana’s blockchain into the Plena super app is a major breakthrough in making decentralized finance (DeFi) more accessible. By using account abstraction, Plena eliminates much of the complexity traditionally associated with DeFi. This innovation ensures that users don’t have to navigate the often-complicated aspects of blockchain technology, allowing them to easily access decentralized applications and services.
Solana’s Blockchain: Perfect for DeFi Applications
Solana’s blockchain technology is known for its scalability and low fees, making it a prime candidate for DeFi applications. The network’s high transaction speed and low costs ensure that users can engage with decentralized finance without worrying about delays or excessive fees. Furthermore, the ability to perform gasless transactions makes the platform even more appealing to users who want to participate in DeFi without incurring additional costs.
Unlocking DeFi for a Broader Audience
The integration of Solana’s blockchain into the Plena super app gives users seamless access to Solana’s thriving decentralized finance ecosystem. From borrowing and lending to trading and staking, users can now easily participate in a variety of DeFi activities. This integration not only enhances the user experience but also accelerates the adoption of decentralized finance by making it more accessible and user-friendly.
Cado Security Labs has uncovered a dangerous new scam campaign that uses artificial intelligence (AI) to create fake websites and social media profiles targeted at Web3 professionals. These AI-generated platforms closely mimic legitimate business sites, particularly those related to blockchain and cryptocurrency, making it nearly impossible for victims to distinguish between real and fake platforms. By using AI technology, the scammers create highly convincing content that appears credible, and Web3 professionals are often tricked into engaging with these fraudulent websites and downloading malicious apps.
Malware Apps “Meeten” and “Meetio” Expose Personal Information
Once the scammers make contact, they encourage their targets to download a business meeting app called “Meeten” or “Meetio.” While these apps appear harmless, they contain malware that, once installed, scans the victim’s device for sensitive information, such as cryptocurrency wallet credentials, Telegram logins, and banking details. In addition, the malware collects browser cookies and autofill credentials, allowing the scammers to gather a vast amount of personal and financial data. This stolen information is then used for fraudulent purposes, leaving the victim vulnerable to identity theft and financial loss.
Web3 Workers Urged to Verify Software Before Downloading
As AI technology continues to advance, scams targeting Web3 professionals have become more difficult to detect. Web3 workers are advised to be extra cautious when downloading software, especially if it is unsolicited. The use of fake websites and social media profiles makes it easier for scammers to deceive even the most experienced individuals in the industry. To protect themselves, professionals should always verify the legitimacy of any platform or app before interacting with it. By remaining cautious and skeptical, Web3 workers can safeguard their personal and financial information from falling into the wrong hands.
